Silver prices surged to an all-time high on Tuesday, hitting $69.5 per ounce, breaking the previous record. This rise was driven by escalating geopolitical tensions, with the US continuing to tighten its blockade of Venezuelan tankers and PDVSA facing difficulties following a recent cyberattack. This heightened global uncertainty strengthens silver's position as a safe-haven asset.
Market sentiment toward silver has become increasingly positive, particularly due to tensions in Venezuela. The US crackdown on Venezuela's oil sector has increased the risk of supply disruptions and worsened the country's economic conditions, indirectly increasing demand for silver as a safe investment.
In addition to geopolitical tensions, strong industrial and investment demand also supports silver prices. As a metal used in a variety of industrial applications, silver benefits from increased demand, while limited silver stocks further exacerbate supply tensions.
This year, silver prices have risen more than 140%, a remarkable surge not seen in recent years. This price increase is expected to continue given the fundamental factors supporting the silver market, including large purchases by central banks and growing industrial demand.
Traders are also factoring in the possibility of an interest rate cut by the Federal Reserve in 2026, which could exacerbate US dollar weakness and further support demand for the precious metal. Fed Governor Christopher Waller recently stated that the Fed still has room to ease monetary policy, further enhancing silver's appeal.
With these factors, silver is expected to continue strengthening, at least until the end of 2025. Projected higher silver prices continue to be driven by strong demand in the industrial sector and global economic uncertainty, suggesting that silver will remain a top choice for long-term investment.
Overall, silver continues to perform solidly with strong fundamentals, and investors will continue to monitor geopolitical tensions and global monetary policy to assess the direction of silver prices in the coming months. With the potential for further price increases, silver remains an attractive option amidst economic uncertainty. (asd)
Source: Newsmaker.id
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